This watchdog blog, by journalist Norman Oder, offers analysis, commentary, and reportage about the $4.9 billion project to build the Barclays Center arena and 16 high-rise buildings at a crucial site in Brooklyn. Dubbed Atlantic Yards by developer Forest City Ratner in 2003, it was rebranded Pacific Park in 2014 after the Chinese government-owned Greenland Group bought a 70% stake in 15 towers. New York State still calls it Atlantic Yards. Contact: AtlanticYardsReport[at]hotmail.com

Monday, March 02, 2015

The New York Post reports, in Play for Brooklyn Nets sale goes global, that "Chinese conglomerate Fosun and the Qatari government’s investment fund" are interested in buying the team from Russian billionaire Mikhail Prokhorov, who owns 80% of the team.

That's interesting, because presumably those buyers do not want a trophy property--as a billionaire like David Geffen, also reportedly interested--but rather a money-maker, and the team, though its value has risen, has been losing money.

Among the issues, apparently, are whether the National Basketball Association will require Prokhorov to sell the team along with his 45% share of the Barclays Center.

Also, Forest City Enterprises, which is selling its share of the arena and is talking to AEG, is reportedly awaiting the sale of the team. (It owns 20% of the team, as well.)

One logjam may be broken once the Atlanta Hawks are sold; the Post reports that the league "may not want prospective buyers to be split between the teams."